The introduction of 50 percent tariffs for imports from India by the Trump administration will affect the European business Tata Steel limited, but in a statement on Thursday, August 28, this will not affect its Indian operations. Nevertheless, the international market has become not very good, and Chinese exports have become in India and other markets are high, which makes the situation very competitive, he added.
mr. Narendran said that over the past few weeks, the Indian government has made a countermer to allow the economy to absorb “tariff heat”, and reforms similar to those offered in the tax on goods and service (GST) will help various sectors to resist high tariffs. Goods like tobacco. Since volumetric products will be placed at the lowest rate, market expectations make up that steel products that currently attract 18 percent GST will move to the lowest rate of 5 percent in the new indirect tax mode
. Currently, the GST has three rates of 5 percent, 18 percent and a peak rate of 28 percent.
of the US tariff in the amount of 50 percent entered into force on Wednesday, August 27. The Trump administration announced a 25 percent tariff and an additional tariff for another 25 percent for Indian products exported in the United States, as a result of which the total tariff is up to 50 percent with the answer to the purchase of Indian oil of Russian oil
.
